2024's Biggest Opportunities to Make Money in Real Estate
Published: 2024-08-07
Status:
Analyzed
Published: 2024-08-07
Status:
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Henry anticipates completing 10 to 15 real estate flips by the end of this year (2024).
"I would say on average we do anywhere between 10 and 15 flips a year so we're we're probably going to be on the right right about that this year"
Pending
Henry will reduce the acquisition rate of new rental properties to focus on optimizing existing portfolio assets.
"I used to say I wanted to add 20 to 30 a year... we're slowing that down I think you know there's some when you're buying value ad ... we're doing some just slowing down on the buyin so that we can optimize what we have in our portfolio"
Pending
Ashley plans to complete two more real estate flips this year (2024).
"I'm going to do maybe I got that one flip under contract and then um I have I'll probably do one more flip this year and that's it"
Pending
Henry estimates a $55,000 net profit from a single-family home flip (purchased at $184k, $55k renovation, listed at $330k).
"so we're estimating to make about a $55,000 net profit after commissions and subtracting our holding costs and all the other ancillary fees"
Pending
Properties in Henry's market with 3-4 bedrooms, 1,200-2,200 sq ft, priced under $300,000, are expected to sell quickly due to strong first-time homebuyer demand.
"in my market we're still targeting the biggest buyer pool which is the the firsttime home buyers ... that firsttime home buyers pool typically wants three to four bedrooms between 1,200 and 2, 2200 square feet in that range and if you can and if you can list anything under 300,000 it's typically going to go pretty quick"
Pending
Henry plans to sell a specific property for $265,000 after purchasing it for $120,000 and investing $40,000 in renovation.
"like I have another deal where I purchased it at 120 we're going to put 40 in it we're going to sell it at 265"
Pending
Ashley can convert her current flip projects into rental properties by securing financing if they fail to sell as flips.
"the couple flips I've chosen could all be rentals so for some reason they couldn't sell I have a second exit strategy where I can go ahead and put financing on them and turn them into rentals"
Pending
Dave expects to increase the cash-on-cash return on his rental properties to 7-9% within a year by performing opportunistic upgrades.
"within a year I think actually I can get that cash on cash return up to 7 8 or 9% just by upgrading them over time"
Pending
Dave anticipates increasing the rent on a unit from $1,050 to $1,450-$1,500 after cosmetic upgrades.
"it got the rent in this unit from what was about I think was at150 and we should get, 1450 to 1,500 now just making those upgrades"
Pending
Ashley plans to renovate a downstairs commercial space, secure a tenant, and refinance out of seller financing within the next four years.
"we have seller financing on that deal for four years so we have the next four years to renovate that downstairs commercial space get a tenant in there and then go ahead and refinance out from our seller financing"
Pending
Henry plans to add washers and dryers to one of the units in his recently acquired 6-unit property.
"I can take one of these units and we're going to add washers and dryers in them"
Pending
Henry plans to convert three garages in his 6-unit property into storage units to offer to tenants for additional income.
"we're going to use the other three garages as storage and offer it as additional to increase the cash flow"
Pending
Henry predicts an additional $200-$400 per month in Section 8 rent by spending $3,000-$5,000 to convert a garage into a bedroom.
"we might go in and spend between three and $5,000 to convert a bedroom but then we're getting an extra $2 to $300 maybe $400 a month rent through guaranteed Section 8 rent"
Pending
Henry Washington expects to complete 10-15 real estate flips in 2024.
"on average we do anywhere between 10 and 15 flips a year so we're we're probably going to be on the right right about that this year"
Pending
Ashley Kehr plans to complete a total of 4 real estate flips in 2024 (2 already done, 1 under contract, 1 more planned).
"I'm going to do maybe I got that one flip under contract and then um I have I'll probably do one more flip this year and that's it just very slow casual"
Pending
Henry Washington estimates a $55,000 net profit on a specific single-family flip listed at $330,000.
"we're able to list it still conservatively at 330,000 and so we're estimating to make about a $55,000 net profit after commissions and subtracting our holding costs and all the other ancillary fees"
Pending
Henry Washington predicts that single-family homes listed under $300,000 in his market will typically sell quickly.
"if you can list anything under 300,000 it's typically going to go pretty quick"
Pending
Henry Washington predicts a specific flip, purchased for $120,000 with $40,000 in renovation costs, will sell quickly for $265,000.
"I have another deal where I purchased it at 120 we're going to put 40 in it we're going to sell it at 265 like those are going super quick because you're under that 300,00 price point"
Pending
Dave Meyer predicts increasing the cash-on-cash return of rental properties to 7-9% within a year by opportunistically upgrading them.
"within a year I think actually I can get that cash on cash return up to 7 8 or 9% just by upgrading them over time"
Pending
Dave Meyer expects to increase rent from $1,050 to $1,450-$1,500 for a specific unit after cosmetic upgrades.
"it got the rent in this unit from what was about I think was at150 and we should get, 1450 to 1,500 now just making those upgrades"
Pending
Ashley Kehr plans to renovate a gutted commercial space, secure a tenant, and refinance out of seller financing within the next four years.
"we have the next four years to renovate that downstairs commercial space get a tenant in there and then go ahead and refinance out from our seller financing"
Pending
Henry Washington plans to convert one garage into a shared laundry facility and three others into storage units to increase cash flow for a six-unit property.
"we're going to do that in one of the garages and then we're going to use the other three garages as storage and offer it as additional to increase the cash flow"
Pending
Henry Washington predicts an extra $200-$400 per month in Section 8 rent from converting a single-car garage into a bedroom, at a cost of $3,000-$5,000.
"we might go in and spend between three and $5,000 to convert a bedroom but then we're getting an extra $2 to $300 maybe $400 a month rent through guaranteed Section 8 rent"
Pending